crazy low interest rates

[Fullquiver]

I don't have any debt.. So I guess it doesn't make a difference to me...

 

[NEWHunter]

Unfortunately I’m at 3% with 2.5 years left on my five year ARM. Unless it’s armageddon, I’m not going to be able to take advantage of the current rate drop.

 

[jryoung]

Started a refi in October when rates dipped so I could bundle a first and HELOC. Due to demand at the credit union it took them months to complete it. It finally closed a couple weeks ago, and now this week they let me re-lock for $500 knocking off another .25%

 

[Elkmagnet]

Im looking at a refi at 2.9% but a wrench just got tossed into the gears. Realtor says he can sell my house in a week for at least $275k when I bought it three years ago for $170k. Might move on to the next abode for that kind of profit.

I know we do things as life allows and thats not always at the best time but humor my opinion here
Since the fees associated with selling and buying a house (realtor, title, loan orientation, ect) are calculated as a percentage of value. It is very financially beneficial to sell and buy in a down market then when things are at their peak.
Keep in mind that it can be harder to sell and harder to get financing in a down market.
As usual ymmv.

 

[kenton]

I know we do things as life allows and thats not always at the best time but humor my opinion here
Since the fees associated with selling and buying a house (realtor, title, loan orientation, ect) are calculated as a percentage of value. It is very financially beneficial to sell and buy in a down market then when things are at their peak.
Keep in mind that it can be harder to sell and harder to get financing in a down market.
As usual ymmv.

I whole heartedly agree and I appreciate the opinion but if I can find a good house that needs a little tlc, pay off two vehicles, and put $40-50 grand in my pocket; it may be time even if it isn't the ideal time. A good problem to have.

 

[npaden]

I have my mortgage set up with annual payments so I can double up every other year for itemized deductions. I do the same with property taxes and charitable contributions.

This lets me itemize one year, then take the standard deduction the next year, etc. Saves me about $5,000 of taxes every other year.

Something that you might consider if you are refinancing anyway. Not sure if you can get a conforming mortgage with the lowest rates setup with an annual payment or not. My mortgage wasn't a conforming mortgage anyway so it didn't matter to me.

 

[NoWiser]

Locked in at 2.5% yesterday for a refinance. I'll keep my payments the same and pay off my house 3 years earlier. I wasn't about to wait and see if rates dropped any lower.

 

[rjthehunter]

I'm hoping they stay low. I'll be purchasing a house in the next 3 months....

 

[fmnjr]

2 properties 1 is a rental refinanced at 3.5 the other is our res at 2.85 cheap money!!

 

[dcopas78]

Refinancing @ 2.55%, paying off house 4 years quicker. I'm also truck shopping. Pretty bad when a truck is gonna cost me more than I owe on my house! But I want something set up the way I want it. Ordering instead of buying from the lot. Plus likely the last new truck I'll buy for a long, long while.

 

[LandPro]

Refi'ed today; 10 yr fixed, 2.3%